The week ahead ( 15-19 FEB).
1) Brexit: The 18/19 Feb EU Summit on the renegotiation of UK's terms of membership will be the major focus for GBP.
2) Apart from the Brexit we have CPI yoy on Tue that is expected better than previous and adding with average earnings and unemployment rate expectations we should see a bullish bias for pound.
3) From Dollar perspective,the release of FOMC minutes,expect neutral and with US CPI stable,we dont expect any major moves in dollar, since already fell.
=> If pound is not cupped from Brexit then we can see pound raise till 1.47-1.48. Downside pound will be depended on negative surprise of news.
1) Brexit: The 18/19 Feb EU Summit on the renegotiation of UK's terms of membership will be the major focus for GBP.
2) Apart from the Brexit we have CPI yoy on Tue that is expected better than previous and adding with average earnings and unemployment rate expectations we should see a bullish bias for pound.
3) From Dollar perspective,the release of FOMC minutes,expect neutral and with US CPI stable,we dont expect any major moves in dollar, since already fell.
=> If pound is not cupped from Brexit then we can see pound raise till 1.47-1.48. Downside pound will be depended on negative surprise of news.